WASHINGTON (Reuters) - President Barack Obama on Wednesday proposed shifting federal student loans to market-based rates rather than the current system in which interest rates are fixed by law and subject to congressional whim.
The new interest-rate approach is one of several measures included in President Barack Obama's fiscal 2014 budget proposal to contain growing student loan debt and make higher education more affordable.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!